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FOX News
Jan 14, 2013 2:00pm PST
president the right to do so not evil. republicans holding the debt ceiling hostage wrong. democrats doing the same thing, not wrong. not close. you can't say republicans aren't reading the will of the people in election when the people kept them in charge of the house in the same election. election have consequences, of course. perhaps hiking taxes on the rich is up with of them. but that does not mean we don't do a lick about our debt. not getting a handle on spending wasn't one of them. hearing only one side don't make you a journalist but doing so to ignore the other side makes you charyl top. charlatan. go after the goose, go after the gander. what is a gander? do you know? be fair, balanceed. both sides. have at it. >> dana: hello, i'm dana perino with kimberly guilfoyle, bob beckel, eric bolling, andrea tantaros. it's 5:00 in new york city. this is "the five." ♪ ♪ >> dana: earlier today, president obama held the final press conference of his first term in the east room of the white house. the main attraction, our old friend the debt ceiling. they could default on the debt,
FOX News
Jan 14, 2013 10:00am PST
debt ceiling. lou, an interesting couple of months. looking forward to it. >> megyn: all right. thank you, sir. >> thanks, megyn. >> megyn: with the president refuse to go negotiate on that debt ceiling, it's coming and we're going to hit it and there's going to be a real question what we will do. he negotiated the last time and suddenly says he doesn't want to negotiate anymore and the republicans have drawn a line in the sand when it comes to these spending cuts, saying, if we don't see a dollar for dollar spending cut in the amount you want to raise the debt ceiling, there's no deal. what kind of progress can we hope for here? our political panel debates that coming up in our next hour. now to another big debate playing out in washington over the obama administration's efforts to overhaul the nation's gun laws. we heard some of that this morning. here is the president addressing this issue during a white house news conference, we mentioned, moments ago. >> what you can count on is that the things that i've said in the past, the belief that we have to have stronger background checks
CNN
Jan 14, 2013 11:00am PST
said the r word again. another recession if congress balks at raising the debt ceiling. that's right. those two words, we're all using them again. debt ceiling. this time around, the president is telling house republicans they can do it his way or own the blame. here he was. >> and republicans in congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. >> also, need to tell you the president did speak about his gun violence effort. he's had the package put together by the vice president is on his desk today. and he will talk about it a little later on this week. want to bring in two people here, ali velshi with me from new york, and gloria borger there in our nation's capital, to you both welcome. ali, it has been more than a year since that whole previous debt limit debacle. and i know you are saying, especially comparing this to what we just saw on new year's day with the fiscal cliff, this is going to
FOX Business
Jan 14, 2013 9:20am EST
, invoke the 14th amendment, ignore the debt ceiling, get around congress. one month after the sandy hook massacre, the gun control debate grips america. several new developments today. a leading gun rights advocate joins us later this hour. the big board, a half hour into the session thus far down 23 points. that's it. here's the company. elizabeth back, charles payne is here, annie coal is always -- and nicole on the floor of the new york stock exchange. get this, everybody, apple dipped blow $500 a share, but where is it now, nicole? >> first time in 11 months, back to february of last year, back above $500. the traders talked about the fact that $495 is a good pickup point for happen l. they are cutting demand for screens and components and pieces for the iphone5 because they are not seeing the demand they hoped. >> that's the story? that's what behind the drop today. there's been a cut in their orders for the components that make the iphone5. that's the basis for this 18-point drop for apple; right? >> it is. you know, intense competition. one product or another. my mind go to rim. i can't wait to see the blackberry 10 on the 30th. it's the realm. >> extraordinary numbers with galaxy phones
CNN
Jan 14, 2013 8:00am PST
, will open with a statement on raising the nation's debt ceiling, all of the deficit problems the country is facing right now, there's another looming deadline mid-february, early march, the nation's debt ceiling must be raised otherwise the full faith and credit of the united states could come into question. right now the current public debt is $16.43 trillion unless congress, both the house and the senate pass legislation, the president sign into law raising that nation's debt ceiling, the u.s. treasury could be in deep, deep trouble, raising questions about america's ability, willingness to pay its debt. u.s. could pay that debt, it would otherwise have to cut enormously for areas in domestic spending and defense 13e7bding in order to do so. and the president's saying don't hold america's economy 40s stajs in this political battle over deficit reduction dealing with nation's death. he will have an impassioned statement at the top and then he will ask reporters' questions. i assume there will be questions on guns. tomorrow the vice president is supposed to hand over his recommendations to the president abo
MSNBC
Jan 14, 2013 2:00pm PST
to be a different tone from the president. i'll get to that in a minute but on debt ceiling, you're absolutely right. when you take that sentence, what he was trying to say because he's not talking about having plan "b"s in his back pocket, things like minting coins, 14th amendment which senate democrats are begging him to do. he's saying, no, if we default, he wants to make it clear then republicans will have decided not to send out social security checks, not to pay our military, not to do these things, so you're right, he's hoping that the political blame -- now, the irony here, chris, is senior republican leaders, they agree with the president on that. any though that that's a politically bad place for them to be. the question is it's going to shift to the government funding and shut down going forward and there talking to aides, they get -- that's up for negotiation. but they want it separated from debt creating. >> let's talk about this debt ceiling thing, howard. do you think the press objectively can report the way the president tried to sell it, which is if this government can't pay its debts, re
CNBC
Jan 14, 2013 2:00pm EST
debt ceiling and extraordinary measures that the treasury is taking right now could be exhausted in as little as one month from now. >> coming down to the wire again. john harwood, thank you we much. >>> let's bring in our own steve liesman. column nest at the american institute of dan greenhouse. both are cnbc contributors. steve, first to you here. all right, listen, you have the republicans saying essentially, we're not negotiating without spending cuts. president saying spending cuts are nonnegotiable off the table. how does this play out? >> i think they make a deal in the end. it is a real challenge it investors now to see through some of this. but what is really interesting to me is what happened over the weekend. what my reporting uncovered and what is out there in public statement is, really the administration is getting rid of the sort of quirky ideas that have been out. the platinum coin is off the table. issuing scripp or ious is off the table. digging in the trenches over the weekend, then the republicans came out and said, you know what, we are more serious about sending
MSNBC
Jan 14, 2013 9:00am PST
battle back and forth over the debt ceiling, and he effectively dared congress to let the u.s. default on its debt obligations right now. he said it's up to congress. he put it in their hands. his language specifically saying they will not collect a ransom in exchange for not crashing the american economy. just some of the language that he used today. he was challenged on this as well, obviously, as he has sort of drawn his line in the sand on the path on other issues. he even challenged on the issue of the debt ceiling when he was in the senate. he said that he wouldn't raise the debt ceiling, and now he is saying that the obligation exists for that to take place right now. he also laid out what i think is going to define some of the next several weeks, which is the issue of gun control. we are expecting that the vice president would be providing his recommendations following his gun violence task force about a month to the day now after the newtown shootings. those recommendations were expected tomorrow. the vice president is sitting down, alex, with the president for what will be a late lunch after about a 51 minute
Comedy Central
Jan 14, 2013 10:30am PST
, avoid default and preempt the debt ceiling crisis. >> stephen: we should have known that a coin was obama's solution to everything. it was right in his slogan. change. it's legal in that it is not technically illegal. [ laughter ] let me explain with someone else's mouth. >> technically it does appear to be legal. here is how. >> the u.s. government can print new money but there's a limit to how much paper money can be until circulation at any one time. there are rules that limit the denominations that gold, silver and copper coins can be but there's no limit on platinum coins. the president can issue a platinum coin in any denomination. the treasury can mint it and print on it $1 trillion. it president can order it to be deposited at the federal reserve. >> stephen: then ben bernanke goes to the fed break room vending machine, inserts the count and picks either cheese nips or save the world economy. [cheers and applause] folks -- frankly, i do not think this will ever hasm first of all, when -- ever happen. first of all, what do you put on a trillion dollar coin snon the tail side a bald eagle breathing fire while making love to
MSNBC
Jan 14, 2013 8:00am PST
debt ceiling and fiscal issues. jay carney sort of telegraphed these statements during the briefings last week, the last one was on wednesday where he said, and i pulled up the notes to get it right. he said there are only two options to deal with the debt limit. congress can pay its bill or fail to act and put the nation into default. the line in the sand was clearly drawn during those news conferences with the press secretary jay carney last week. and the president is going to draw his own line when he makes those opening remark just a short time from now. >> is the president going to speak first about the debt ceiling, and do we expect any written remarks about what the vice president has been doing because there is that self-imposed tuesday deadline tomorrow about the gun control debate and what the gun task force, the proposals, that is, what will be put forth by the vice president. >> it's a good question and it will certainly be questions from reporters gathered in the east room about the issue of gun control and what the president is considering as well as what the vice president has heard as a part of this gun violence task force. remember, it's pebted that the formal recomm
CBS
Jan 14, 2013 7:00am PST
sequester, but don't use the debt ceiling. that's a bad idea. >> president said he won't negotiate on the debt ceiling. >> i think he's right on that. >> senator, thank you. good to see you. >> thank you. nice to see you all. >>> and we spoke to supreme court justice sonia sotomayor. she spoke with scott pelley about her new york city home and reputation as a tough corporate lawyer. >> you write in your book that one day one of the associates one of your colleagues was on the telephone, and he described you, your words, not mine as one tough -- >> his words. >> as one tough bitch. >> yeah. >> and when you heard that, you thought what? >> what in the world is wrong with me? i was a pretty tough negotiator and hard to push around and i don't think they were used to my kind of toughness then. >> is his description in any way unfair? >> probably not. >> she's been called a lot of things, but she told us more than madam justice, she prefers another title. >> it's sonia from the bronx. >> what does it mean to be sonia from the bronx? >> hi. >> it means to be a part of this particular community. >> how are you? a vibrant, loving givi
CNN
Jan 14, 2013 9:00am PST
will not negotiate with congress when it comes to raising the nation's debt ceiling. what i will not do, the president said, is negotiate with a gun at the head of the american people. very strong words from the president. he was clearly frustrate, clearly anger at the republicans right now, threatening that he's not going to go ahead and let them do, let them try to use raising the nation's debt ceiling, raising the nation's debt ceiling as leverage in getting further spending cuts. john king is here, gloria borger is here with us. both of you stand by. brianna keilar was at the news conference. she's over there at the white house. brianna, the president was very tough in offering his assessment on what needs to be done. >> reporter: that's right, wolf. and he said he will not negotiate on the debt ceiling, the end. he has reiterated that, and this was his chance to come out today and say it yet again. he said today that the united states is not a deadbeat nation. and the point that he was making and i think we'll be hearing a lot more of, and we've heard some of in the past, is that he says this is spending that has already taken place. he used an analogy where he talked about, you go out for a meal at the restaurant and then you don't pay the bill. he's saying this is
MSNBC
Jan 14, 2013 12:00pm PST
already digging in his heels against republicans on the debt ceiling saying today, quote, we are not a deadbeat nation. ann says republicans just cannot stand for smart people being in charge. ann, i could not agree more. >> that's exactly right. that's the problem. >> amen. >> like us on facebook and let us know what you expect of the president's second term and the debt ceiling and budget battles. >>> up next, crime and punishment. america has more people locked up than any other nation in the world and what price to our wag lets and to our society? the author of "jailhouse blues" joins us next. [ roasting firewood ] ♪ many hot dogs are within you. try pepto-bismol to-go, it's the power of pepto, but it fits in your pocket. now tell the world daniel... of pepto-bismol to-go. this reduced sodium soup says it may help lower cholesterol, how does it work? you just have to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this soup. >>> in the '70s most predicted the prison system to fade away. they surmised that prison does not deter crime significantly and people with economic
CNBC
Jan 14, 2013 4:00pm EST
now from ben bernanke on the debt ceiling. over to you, steve. >> thank you very much. ben bernanke commenting on the fiscal cliff. saying there was progress there but the u.s. economy and the theretos from the fiscal debate, the u.s. economy is not out of the woods yet. raising the debt ceiling, he said, gives the opportunity to spend now. like a family trying to raise its credit rating not deciding to pay bills. we think we're getting some effect in lowering interest rates but it's still early yet to tell. we have found qe to be an effective tool. we will continue to assess how effective. just before you came to me he was asked one of the criticisms. aren't the fed quantitative policies overspending by congress. the chairman saying it's not the fed's job to play games and make congress do what it should be doing on its own. >> he keeps saying this in so many words. you'd think people would get it at this point. thank you so much. >> you would think, yeah. >> steve leisman. president obama telling republicans to move quickly on the debt ceiling. jon harwood on the president's main
MSNBC
Jan 14, 2013 7:00am PST
ceiling. we'll have that for you live right here on ms nrk bc. >>> today's tweet of the day is about one part of the golden globes thats has gotten a lot of attention today. marley matalin writes, jodie foster at the golden globes, pure jody, rightfully defending her privacy while doing it with brains and a smile. stress sweat is different than ordinary sweat. it smells worse. get 4x the protection against stress sweat. introducing new secret clinical strength stress response scent. i'm up next, but now i'm singing the heartburn blues. hold on, prilosec isn't for fast relief. cue up alka-seltzer. it stops heartburn fast. ♪ oh what a relief it is! two. three. my credit card rewards are easy to remember with the bankamericard cash rewards credit card. earn 1% cash back everywhere, every time. [ both ] 2% back on groceries. [ all ] 3% on gas. no hoops to jump through. i earn more cash back on the things i buy the most. [ woman ] it's as easy as... one! -two. -[ all ] three! [ male announcer ] the bankamericard cash rewards credit card. apply online or at a bank of america near you. yo
FOX Business
Jan 14, 2013 1:00pm EST
their annual conference retreat in williamsburg, virginia to discuss their debt ceiling strategy moving forward. back to you. >> and speaking of responsible bookkeeping as the president was, you're just getting word the president's budget won't be delivered by the february 4th deadline; is that right? >> yes. a spokesman for the house budget committee confirms the white house communicated to them they will not get their budget to the white house on time. this is a deadline they met in the past, although, it's not like the white house will not come out with their budget. releasing the budget. thanks so much. >> from washington to wall street now, eyebrows raisedded on wall street watching records amount of money flow from stocks as bond rates are near historic lows. is this finally the great rotation out of bonds? that question to bill o'donald, head of treasury strategy at rbs. welcome, bill. great to see you as all. >> thank you. >> the most in equities in 2008. is there a rotation. a what's your take? >> well, my take is that one of the spurs to that slight from bonds to stocks may well have been just over a week ago when the fomc unvailed their minutes of the december fomc meeting, and a number of people, you know, read through those minutes, and as a take away became increasely concer
CNBC
Jan 14, 2013 12:00pm EST
. >> thank you, sir. you've spoken extensively about the debt ceiling debate but some republicans have further said that they're willing to allow a government shutdown to take place rather than put off deep spending cuts. are you prepared to allow the government to griebd to a halt if you disagree with the spending cut proposals they put forward? and who do you think the american people would blame if that came to pass? >> well, ultimately, congress makes the decisions about whether or not we spend money and whether or not we keep this government open. and if the republicans in cook had made a decision that they want to shut down the government in order to get their way, then, they had the votes at least in the house of representatives, probably, to do that. i think that would be a mistake. i think it would be profoundly damaging to our economy, i think it would actually add to our deficit, because it will impede growth. i think it's short-sighted. but, they're elected representatives, and folks put them in to those positions, and they're going to have to make a decision about that. an
FOX News
Jan 14, 2013 1:00pm PST
raising the debt ceiling, that means saying that theteams did the same thing. major is pointing out to the president's face that the president has done so himself. i'm not saying, nor is major garrett, who is right or wrong but fair is fair. continuing spending debate in washington, not covering both parties fair or up fair is both. would it kill you to say that the democrats are just as obstinate for not wanting to cut spending. if republicans are adamant on taxes, democrats are adamant when they are not on spending and that's not obstructionist? point out the oddity and the time. like nancy pelosi trying to
FOX Business
Jan 14, 2013 11:00am EST
debt ceiling, but at the end of the day, spending is not going to get cut, not in the way it would have to. >> i think you're right. we're never going to see the spending get cut. because i don't think either party wants to cut spending that they regularly talk about and obama talked about cutting spending line by line. republicans talked about small government. but every year we look back and we say oh wow it's grown even more. i think there's going to be a lot of back and forth. it strikes me that that's obama's plan that he wants to get ahead of it, but the reality is neither party is going to do anything. that to me is the big scandal here. we're a constitutionally limited government yet it collects 2.5 trillion dollars a year. it strikes me that that's the scandal that not enough people are talking about, a limited government wouldn't need that much money. dagen: how do you think the debt ceiling fight does play out, however? again, if you have people who have nothing to lose, then they become very dangerous, if they're willing to put their necks on the line for this kind of fight, because there's this one and then
MSNBC
Jan 14, 2013 10:00am PST
debt ceiling. >> the issue here is whether or not america pays its bills. we are not a deadbeat nation. >> taking a stand on the one-month anniversary of the newtown massacre. the families speak out. >> this is a promise to turn the conversation into actions. things must change. this is the time. this is a promise we make to our precious children because each child, every human life, is filled with promise, and though we continue to be filled with unbearable pain, we choose love, belief, and hope instead of anger. >> calling them out. tough words from former secretary of state general colin powell for his fellow republicans on race. >> there's also a dark vein of intolerance many some parts of the party. >> the end of the longest war and the man president obama has nominated to wind it down coming up. retired general stanley mcchrystal on chuck hagel. the exit strategy from afghanistan and his own career. >>> plus, show stopper. president clinton he should the standing ovation with his surprise appearance on "lincoln" at the golden globes. >> in "lincoln" we see a man more interesting
CNBC
Jan 14, 2013 5:00pm EST
debt ceiling debate coming up. we're going to get another notch downgrade. that's good enough for another 15% selloff, that's where i'm at right now. i don't see a reason to jump into this market. are you figuring out that maybe the first quarter, maybe the hedge leg into this market or are you saying from this point forward? >> well, i've been at this a long time and i know i can be unbelievably wrong and i have been in the past on a number of things. the trick in the business is when you're wrong, admit it. when you are losing money, cut your position. right now you the market is telling me with the s&p at or near new highs with the bond market breaking up trend lines that that is the right place to be. yes, when we saw the numbers for mutual found inflows, we thought, oh, my lord, that's the end of the move. i'm not sure this time that's the correct paradigm. i think this time we might actually begin seeing or are seeing net inflows that actually have years in duration. >> so, button this up for us. if you say long stocks and rotation out of bonds, where do you see the yield? i know you are going to say lower left to upper righ
FOX News
Jan 14, 2013 8:00am PST
information about iran and its pursuit of a nuclear weapon. so by focusing on the debt ceiling fight is the president's sort of holding out a shiny object for the press to capture attention? >> well, look, i think whether, i think you're right that there's a lot of pitfalls out there for the president, things we haven't thought of, foreign policy crises yet to come and an economy that has been sluggish. a couple of things to realize. first of all the economy has not been in that great a shape and the president was reelected nonetheless. while eventually i think voters might get fed up with his economic stewardship, they might not. secondly whether the president wants to hold up shiny objects for the press, we know the debt ceiling fight will come to a head. we know it will be a major clash. the president wants to maintain upper hand here. not so much what you or i might think is really going on. it is what voters think is going on. how they see things. he wants to maintain his image at a reasonable, rational guy versus a, band of republicans he wants to faint as extreme, out of touch and unreasonable. jon: weill look for him to, at that conversation at this news conference. david drucker. >> that's correct. that's what it is all
MSNBC
Jan 14, 2013 6:00am PST
the debt ceiling was a great idea and got them great leverage. they have climbed up the mountain and rig down the mountain so many times with this president. >> climbed down the mountain. i think it was a -- >> good point. talk about a cliff. but, you're right. they don't really want to play that game. they don't want to be accused of not paying the country's bill, but how do thaw use that leverage in order to finally get to cuts, which the president said will be coming, but never seems to come in their lives. >> back to the white house here, boy, the markets would love to hear that the white house says it doesn't matter. >> and at some point, i think the r markets might hear that, but you've got to go this dance if you're the white house, politically. and they understand that the republicans loss in the debt ceiling, they lost last time. >> president didn't win. it was sort of, it was he was battered. tack he roved. but it took him three to four months. >> you're talking about last time. just on the fiscal cliff. >> so right now, the republicans are vulnerable. they don't have any l
CNN
Jan 14, 2013 1:00pm PST
another crisis, right. this time of course it' over the debt ceiling. and it's going to be big, because it really reflects two different visions of what the debt ceiling is all about. for the president, you heard today, it's about paying your bill. going to a restaurant. picking up the tab for food you've already eaten. fine. >> very common sense, yes. >> very common sense. for republicans, it's about solving a problem. making a government that is too big, smaller and getting control of runaway spending on entitlements like social security and medicare and fixing a long-term problem. it's not just about paying the bills. it's about the future. >> right, but there are also a lot of political calculations in here. i assume they're very close to the political calculations we saw in the last crisis. >> yes, they are, although, you know, in the last crisis it was very clear that the president had the let me rverage. he had just won the election. he had won an election over the tax issue and the republicans lost over the tax issue. they're pushing that so far off the table that i don
CNBC
Jan 14, 2013 6:00am EST
. we're speccing to run into that debt ceiling sometime between february 15th and march 1st. in the meantime, let's talk about corporate news. aig is suiciding maiden lane over lawsuit rights. it's the federal vehicle created during aig's bailout. at issue is whether the insurer transferred its rights to sue for losses that it incurred on its troubled bonds when it sold $2 billion in securities to the fed in 20308. aig is preserving its right to sue the federal government and other debts. >> fed chairman ben bernanke is going to speak and answer questions at the university of michigan. in d.c., president obama is said to be forging ahead on a wide ranging plan to overhaul the immigration plan this year. this includes a path to citizenship for illegal immigrants already in the country. immigrants would have to pay fines and back taxes. it would require businesses to veri verify employees in the country legally. the president will lay out his annual state of the u.n. address set for february 12th. >> let's take a look at the markets this morning. at this point, the futures outlook is mixed. dow and s&p 500 futures are both indicated higher. fass dak futures are indicated slightly
CNBC
Jan 14, 2013 3:00pm EST
wants to go higher even in the face of things like the debt ceiling debate and a global slowdown. if you had to call it a baseball game, what inning are we in? >> i'd say the second inning, third inning. there's a lot of left. >> wow. >> this is the year of all-time new highs? >> all-time new highs? >> as we speak. >> all-time new high for the nasdaq would be 5,000, right? >> i didn't say the nasdaq. >> okay. >> okay. so we have found the ceiling somewhere. >> it'd be fine. >> i asked our staff which chart you'd want to show to support your bullish stance and they showed me the russell 2,000. sthast where you're getting your bullishness right now? >> first of all, the dow jones is away from an all-time new high. the dow transportation index is less than 1% away from an all-time new high. when i see the secondaries as leaders, bill, that's the risk trade is back. i think that leadership suggests a lot more on the upside. >> so the secondary -- so-called secondaries are doing well. you think the blue chips will catch up with them and that's where we get the new highs then? >> well
CSPAN
Jan 14, 2013 12:00pm EST
villaraigosa. he talks about immigration, gun control, and the federal debt ceiling. >> immigrants must takes personal -- must take personal responsibility for their action, but as they do, we must provide a meaningful path forward to become full members of american society. we have every right to enforce our laws and protect our borders. but we must balance this with the need to encourage the aspirations of america's immigrants. these are the principles that the american people through their support behind in november. these are the principles that must dive immigration reform in the coming months. with these principles in mind, we need reform built on the following six policy pillars. one, a pathway to permit legal residency and citizenship, for the 11 million undocumented immigrants must be at the core of reform. two, legalization should be earned, but not unattainable. it should be a process, not a punishment, to include a criminal background check, and the payment of back taxes. 3, family unification should continue as a key priority of our immigration policy. the goal must be to protect the sanctity of the family. keeping families together not only keeps capital in the united states, and also maximizes the human potential. these immigrants start family based small busines
FOX Business
Jan 14, 2013 4:00pm EST
. >> sandy this is hot week for the debt ceiling limit debate. we have breaking news from rich edson joining us live from d.c. go ahead, rich. >> a new debt ceiling target date from treasury, mid-february to early march says treasury. remember we technically hit the debt ceiling on new year's eve but treasury is undergoing what are known as extraordinary measures to keep paying the bills. this in a letter to speaker john boehner from the treasury department. treasury currently expects to exhaust these extraordinary measures between mid-february and early march of this year. any estimate however will be subject to a significant amount of uncertainty because we are entering the tax filing season. a warning to republicans saying threaten to undermind our credit worthiness is no less irresponsible than threatening to undermined the rule of law and no more legitimate than any other common demand for ransom. very similar to the tone and warning about i president obama earlier today in a news conference saying that the congress has ordered him to spend this money and therefore must raise th
PBS
Jan 14, 2013 3:00pm PST
congress didn't raise the debt ceiling it would prioritize some of its payments or sell off some u.s. assets or things. the white house never signed off on that. frankly it wouldn't be in the president's interest to come up with a plan-b right now because that would just weaken his hand in these discussions. jake is right when he says that we're going to see a battle over the debt limit whether if white house wants this or not. it's likely to be a little bit uglier than what we saw in 2011 just because the republicans are coming off a bruising election. they're coming off a fiscal debate at the end of the year where they feel like they didn't get anything out of it because they didn't get the spending cuts they want. they have these two things coming up in terms of the budget negotiations. and you have these automatic spending cuts that are set to go into effect at the end of february. they feel like the debt ceiling is going to be... is their leverage. they managed to usity fek tively in 2011 although if you're an economist you would say it wasn't effective and it ended up hurting t
CSPAN
Jan 14, 2013 10:00am EST
relief package. for right now, the president expected shortly. he will be talking about the debt ceiling. that is the $16.7 billion ceiling we will hit up against in congress. also, possibly touching on topics like gun violence and other issues that are on the president's agenda. >> ladies and gentlemen, the president of the united states. >> please have a seat. good morning. i thought it might make sense to take some questions this week as my first term comes to an end. it has been a busy and productive for years. i expect the same thing from the next four years, and i intend to carry out the agenda i campaigned on. new security for the middle class. right now our economy is growing and our businesses are creating new jobs. we are poised for a good year. if we make smart decisions in sound investments, and as long as washington politics did not get in the way of america's progress. as a set on the campaign, one component to growing our economy and broadening opportunity for the middle class is shrinking our deficit and a balanced and responsible way. for nearly two years now i h
PBS
Jan 13, 2013 5:00pm PST
out" when it matters. >> yeah. the 2011 debt ceiling fight was deeply disheartening because he should not have negotiated on the debt ceiling at all. same argument as now. this is not how you do it. it is not a legitimate tactic of politics to threaten to destroy the country if you don't get what you want. and people who make that demand have no standing. you should not give them anything. but he did. he actually did, in fact, make some significant concessions on spending, in order to get a rise in the debt limit. he blinked a little bit on the fiscal cliff. not as badly as some of us feared, but he did not, in fact, hold out for the full revenue package. and so, some of us are worried. now, i have to say, i mean, i'm reading my own stage directions here. people like me are, in part, going after him, warning about the wimping out thing in order to turn that into a self-denying prophesy. that the idea is to make a situation where the president will be aware what people will say about him if he does give in here so it doesn't happen. >> more than many economists i read, you keep
MSNBC
Jan 14, 2013 11:00am PST
cut in spending, whether it was in that 2011 debt ceiling agreement in the budget control act, whether it was also the revenue that was increased with the end of the fiscal cliff talks that we had right at the beginning of the new year, tamron. so, president obama said, look, we have really cut a lot of spending. there's more that he would like to be able to do but that it would be ludicrous to suggest there's no spending cut over the last year and a half. >> let's play the president's answer to the question over who would be blamed if we actually see a shutdown. this is his answer a short time ago. >> i suspect that the american people would blame all of washington for not being able to get the act together. >> ta-da! blame everybody in that town excludeing you, of course, mark. but the reality of the situation is that it would be enough blame to go around. president bringing up medicare and social security, as well. being concerned of what do you cut and who ends up hurt in all of this? what's the likely next step given the reaction from speaker boehner and senator mitch mcconnell minutes after the president's remarks? >> tamron, i mean, most likely we have a brinksmanship and every t
ABC
Jan 14, 2013 7:00am PST
diane, the president will lay down a very strong marker on that issue of the debt ceiling. will it hit of how much it can borrow. the president says that congress must raise it. he will not negotiate. it's their responsibility. that puts the president squarely at odds with the president. they'll demand spending cuts before raising that ceiling. the president will not engage in negotiates, period. it's simply congress's responsibility to act. >> he's ruled out any unilateral work-around. >>> an element of here we go again. >> it certainly does. so many times, back in august 2011, again, just before the end of this year, the president in pa major confrontation with congress over fiscal issues, taxes and spending and debt. >> you're looking at the door slightly ajarred to the green room, right next to the east room, and the president has been gathering there, we noticed that he postponed this press conference a couple of times this morning. a few delays. >> supposed to be around 11:15. we're almost half-hour after that. not quite. the president could face questions about personnel in
CNBC
Jan 14, 2013 9:00am EST
president's statements on the debt ceiling, the new payroll tax hike, and a lot more. but first we'll take a look at how apple is trading right now. it did dip below 500 this morning after the company cut orders on its iphone five screens and some other components today. what is the best way to play the stock going forward? seth weintraub is the pick lisher of nine to five mac. he joins us this morning. >> good morning. >> my first question is, is this new news or not? >> well, there were similar reports from chinese news sources over the past month. so i guess it's now more official that "the wall street journal" reported it. although it is still a little bit in the u.s. >> a lot of discussion about whether the market is discounting the same headline twice today. what does it say about demand for the iphone five specifically, and then what does it say about demand for anything with the apple logo on it over the next few years? >> well, investors are clearly spooked. there's a lot of different things that may be scaring them. we've been hearing some stories about apple going to a two per year upgrade cycle, instead of, you know,
NBC
Jan 14, 2013 7:00am PST
. all right. matt spotolnik. >> thank you, sir. you've spoken extensively about the debt ceiling debate, but some americans have said they're willing to have a government shutdown take place rather than have deep spending cuts. are you prepared for the government to take a halt rather than accept the spending cuts they set forth, and who do you think america would blame if that came to pass? >> well, obviously the republicans in congress have a decision to make, and if they want to shut down congress in order to get their way, then it would take a vote from the house of representatives to do that. i think that would be a mistake, i think it would be profoundly damaging to our economy. i think it would actually add to our deficit because it will impede growth. i think it's short-sighted. but they're elected representatives and folks put them into those positions, and they're going to have to make a decision about that. and i suspect the american people will blame all of washington for not being able to get its act together. we can shake a bipartisan plan to reduce the deficit. is
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